Exhibit 99


(On Jewelcor Management, Inc Letterhead)




Via Facsimile & Regular Mail

May 6, 2002

Chris Gagas
Chairman and Chief Executive Officer
Pathfinder Bancorp, Inc.
214 West First Street
Oswego, NY  13126

Dear Chris:

	I just read Pathfinder's press release issued on Friday, May 3
2002 at 5:56 p.m.  The timing of your release after the close of
business on Friday gives the appearance of your wanting as few
shareholders as possible to read it.  I hope that was not the case,
but that is what shareholders will obviously infer.  Press releases
should be issued before the stock market opens or a reasonable time
after the market opens, except on Friday.

I was extremely troubled to learn that a bank of Pathfinder's size has two
non-performing commercial loans in the amount of $1.5 million.  Is this the
end of the bad news?

I urge you to reconsider the bank's position regarding Fulton Savings Bank.
You know in your heart that is the right thing to do.  I do not understand
how you can justify this to shareholders, as well as your own ethics.

		Sincerely,



		Seymour Holtzman

cc:	Thomas Schneider
SH/jmq